Gold price today near $4,000 as stock market down over AI concerns - is it time to add more gold to your portfolio?

Core Insights - Gold futures opened at $3,986.90 per ounce, showing minimal change from the previous day's close of $3,991, and briefly surpassed the $4,000 mark in early trading [1] - The increase in gold prices follows a difficult week for US stocks, with the S&P 500, Dow Jones Industrial Average, and Nasdaq Composite all experiencing losses, particularly the Nasdaq, which fell by 3.7% since Monday's open [2] - Concerns regarding high valuations in artificial intelligence stocks have negatively impacted investor sentiment, with notable investor Michael Burry betting against Nvidia and Palantir [3][12] Gold Market Dynamics - Gold typically gains during periods of stock market uncertainty as investors look for safer investment options [4] - As of October 17, gold futures were up 62.4% year-over-year, with a 49.7% increase compared to one year ago [5] Expert Opinions on Gold Allocation - Robert R. Johnson advises against gold investment for younger investors, citing the tradeoff between reduced volatility and potential long-term returns [7] - Brett Elliott recommends a 2% to 5% allocation for resiliency, while growth-oriented investors may consider 10-15% [8] - Blake McLaughlin suggests a 5% to 8% allocation, emphasizing gold's historical resilience amid economic and geopolitical uncertainty [9] - Thomas Winmill proposes a 5% to 15% allocation, particularly through gold mining mutual funds, based on risk tolerance [10] - Vince Stanzione advocates for a 20% allocation to gold, either physically or via ETFs, as a strategy for wealth protection against inflation and currency devaluation [11]